Aerohive Networks, Inc. (NYSE:HIVE) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, October 31st.
Aerohive Networks (NYSE:HIVE) last issued its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The firm had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.11 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Aerohive Networks’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, analysts expect Aerohive Networks to post $-0.14 EPS for the current fiscal year and $-0.02 EPS for the next fiscal year.
Aerohive Networks, Inc. (NYSE:HIVE) opened at 3.89 on Monday. The company’s market cap is $169.63 million. Aerohive Networks, Inc. has a 12 month low of $3.02 and a 12 month high of $6.14. The company’s 50 day moving average is $3.95 and its 200-day moving average is $4.21.
Several equities research analysts recently commented on HIVE shares. BidaskClub lowered shares of Aerohive Networks from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research lowered shares of Aerohive Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Craig Hallum started coverage on shares of Aerohive Networks in a report on Tuesday, October 17th. They issued a “buy” rating and a $6.00 price target for the company. Finally, ValuEngine lowered shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.31.
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Several institutional investors have recently added to or reduced their stakes in HIVE. State Street Corp grew its holdings in shares of Aerohive Networks by 15.8% during the second quarter. State Street Corp now owns 379,843 shares of the communications equipment provider’s stock worth $1,902,000 after buying an additional 51,774 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Aerohive Networks by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after buying an additional 7,258 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Aerohive Networks by 15.3% during the second quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock worth $278,000 after buying an additional 7,400 shares in the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.
About Aerohive Networks
Aerohive Networks, Inc together with its subsidiaries, has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy and manage a mobile-centric network edge. Its portfolio of products and solutions is built around sets of technologies and solutions, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.
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